Plastic Films - Global Market Outlook (2017-2026)

According to Stratistics MRC, the Global Plastic Films Market is accounted for $1,06,785 million in 2017 and expected to grow at a CAGR of 7.2% to reach $1,99,845 million by 2026. The rising demand for bio plastics & eco friendly plastics, demand for flexible food packaging materials and increasing demand for decorative laminates are some of the factors driving the market growth. However, impositions of stringent regulations by the government and high cost of raw materials are hindering the market. The biodegradable and specialty films provide ample opportunities in the market.

Plastic film are thin continuous polymeric material made up of different resins, that are printed or plain, transparent or colour, single layered or multilayered, and are combined with other materials such as paper and aluminium. The majority of the plastics are produced from polyethylene resins. The major beneficial features of the plastic films are its flexibility and the spring nature. The plastic films are widely used across many industry verticals such as packaging, decoration, consumer goods, construction, pharmaceutical, electrical, and others.

The water soluble films are the biodegradable type of polymer materials that have solubility mechanism in water, both hot and cold. The water soluble films are non toxic in nature and prevent odour. The stringent government regulations imposing by the governments is one of the major driving factor, as these regulations help in the consumer shift from non degradable materials to biodegradable and eco-friendly material like water soluble films. Edible water soluble films are one another type where there is an increasing demand and generating ample opportunities in the market.

Asia Pacific is one of the regions for the better growing markets for plastic films owing to demand in various end user industry such as packaging and consumer goods industry in China region followed by Japan and India. Increasing demand in consumer trend for packaging industry particularly, in India, Taiwan, and South Korea has made Asia Pacific largest consumer of the global plastic films market followed by increasing in the consumption of plastic films market in North America region. The third largest market of plastic films is Europe. Latin America and Middle East also witnessed in growth of plastic films market due to various application such as packaging, consumer goods, construction, pharmaceutical, electrical, and others.

Note: Tables for North America, Europe, Asia Pacific, South America and Middle East are presented in the same manner above.

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